Slaughter and May is advising Credit Karma, one of the world’s highest-valued financial technology companies, on its first move into Europe with an agreement to acquire TransUnion’s Noddle business.
Noddle is an online service with over 4 million members in the UK that provides members with free, unlimited access to credit scores and reports.
Credit Karma’s technology platform currently has more than 85 million members in the United States and Canada, including almost half of all millennials. It offers a suite of products for members to monitor and improve credit health, prepare and file taxes, and provides identity monitoring and auto insurance estimates. It leverages advanced data modelling to analyse and identify the best financial products for its members.
Terms of the agreement will not be disclosed. The sale is anticipated to close in the fourth quarter, or early 2019, pending regulatory approval.
Slaughter and May is advising Credit Karma on the deal with a Corporate team led by Robert Innes (Partner), Richard Smith (Partner, in picture), James Cook (Associate), Dominic Brown (Associate), James Dow (Associate), Jessica Stewart (Associate), Alex Peters (Trainee); on IP/Tech and Data Protection law are acting Rob Sumroy (Partner), Duncan Blaikie (Partner), Tom Sharpe (Associate), Georgina Hoy (Associate), Duncan Mykura (Associate); on Financial Regulation law are advising Ben Kingsley (Partner), Tim Fosh (Associate) and Lucy Sale (Associate); on Tax matters are advising Dominic Robertson (Partner), Tanja Velling (Associate) and Sarah Osprey (Associate); on Employment aspects are acting Phil Linnard (Partner) and Simon Clark (Associate); on Real Estate matters are advising Jane Edwarde (Partner), Ben Redding (Associate) and Chloe Halloran (Associate); and on Competition law is advising Jordan Ellison (Partner).
Involved fees earner: Richard Smith – Slaughter and May; Robert Innes – Slaughter and May; James Cook – Slaughter and May; Dominic Brown – Slaughter and May; James Dow – Slaughter and May; Jessica Stewart – Slaughter and May; Alex Peters – Slaughter and May;
Law Firms: Slaughter and May;
Clients: Credit Karma;